secwatch.observer — SEC 8-K summary
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Issuer:     WESTERN DIGITAL CORP (WDC)
CIK:        0000106040
Form:       8-K/A
Filed at:   2023-02-07T23:59:59+00:00
Accession:  0001193125-23-026907
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.02, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Western Digital raises $900M via convertible preferred from Apollo and Elliott
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- Issued $900M Series A Convertible Perpetual Preferred: Apollo $665M, Elliott $235M.
- Preferred pays 6.25% dividend, stepping to 7.25% (yr 7) then 8.25% (yr 10); convertible at $47.75.
- Reed B. Rayman (Apollo) appointed to board; Elliott gets board nomination rights until 2025.
- Investors subject to 3-year transfer restrictions and standstill provisions.
- This amendment fixes a typo in the original 8-K; no other changes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/106040/000119312523026907/0001193125-23-026907-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/106040/000119312523026907/d419870d8ka.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-026907

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer